NAMA and Waterford

jayboi

Is there any comprehensive lists of the property owned by Nama in the city, ive come across a few lists but nothing with everything.

Would they own outright the lands of companies that have gone bust compared to companies that are just in Nama but getting by?

hardybuck

jayboi wrote: »

Is there any comprehensive lists of the property owned by Nama in the city, ive come across a few lists but nothing with everything.

Would they own outright the lands of companies that have gone bust compared to companies that are just in Nama but getting by?

As far as I'm aware NAMA are very secretive. There is a website called namawinelake or something along those lines - Google it. This has very well maintained lists and updates.

90% of NAMA property is in Dublin, Limerick, Cork and Galway so I assume there isn't a huge amount in Waterford.

Bards

hardybuck wrote: »

As far as I'm aware NAMA are very secretive. There is a website called namawinelake or something along those lines - Google it. This has very well maintained lists and updates.

90% of NAMA property is in Dublin, Limerick, Cork and Galway so I assume there isn't a huge amount in Waterford.

This is what I was afraid of when NAMA was first set up. I posed a rhetorical question on a thread some years ago where I asked how would NAMA go about maximising its profits.

I hypothesised that they only way they can increase their profits is by growing demand in those cities/towns where they have substantial properties.

How do they go about growing demand? by increasing the population, through increased state investment and further Job Growth.

This is where Waterford will fare badly as we do not have much NAMA based properties except for the likes of Ferrybank, which, if developed will undermine the City Centre.

Seems as though its going to be Heads, they win, and Tails we loose. Time will tell if I was right

fricatus

hardybuck wrote: »

90% of NAMA property is in Dublin, Limerick, Cork and Galway so I assume there isn't a huge amount in Waterford.

Knowing this country, that probably means 86% is in Dublin, 2% is in Cork and 1% is in each of Limerick and Galway!

I'd love to see figures on the geographical spend of Anglo's money. I bet the majority was spent in Dublin - in which case why are we all (cuuulchies included) paying for it?

jayboi

Where has ownership of all mcinerneys assests in town ended up?

Siamsa Sessions

hardybuck wrote: »

As far as I'm aware NAMA are very secretive. There is a website called namawinelake or something along those lines

Here's Nama Wine Lake: http://namawinelake.wordpress.com/

From what I can gather following this blog, NAMA is very, very secretive about what's on its books.

Here's a comment from a post on the blog that offers a plausible reason for NAMA not advertising the property it's "managing":

"I asked two receivers about their reluctance to make the property they have available highly visible for sales purposes. (They wouldn’t even give me a list of the properties. I had to ask about a specific property and they would tell me the status and agent.) The answer was simple the banks still do not want to sell property at what they can get on the market.

The banks know that if they monitise their properties it will still be a lot less than the most pessimistic value from the Blackrock Intl. review. Selling properties would show that they need another massive bailout.

The receivers love this process because it means longer receiverships and thus larger fees at 500 an hour.

The Government are in the usual kick the can down the road mode since they have been denying the need for 2nd bailout until they needed it for the referendum.

The only honest players here are Allsop and the Bank of Scotland. Everybody else is happy to keep the myth of the Irish Property bubble alive.

The same old game, the professionals pocket the fees the punters get fleeced."

From: http://namawinelake.wordpress.com/2012/05/23/nama-deferred-mortgage-scheme-a-stunning-success-but-for-all-the-wrong-reasons/